Long term care insurance
Hi Terry, I read an article in the Orlando Sentinel you wrote recently about Long Term Care insurance and how important it is. I agree with you, but it’s not always a simple process. I’m 67 and my husband is 68. We tried to get LTC insurance several years ago, but were denied because I have a benign brain tumor (since 2011, no symptoms, not growing), I am slightly obese and I’ve had 2 knee replacements. My husband was denied also because he’s has high blood pressure (but it’s been under control for years with medications). He just had an HPV-related cancer diagnosis with successful surgery and radiation treatments (his 3-month CT scan was clear). We both go to the gym 2-3 times a week and are relatively healthy in spite of the issues. What chance do either of us have of getting a LTC insurance policy with our ‘health issues’? It may be more important for me to have it vs. my husband. Would love to get your opinion about this and where to look for an experienced agent who could look for a policy for me/us. Thank you.
Terry Says
Ah that is the main issue with LTC insurance: You must be healthy at the time of purchase. I doubt very much that you could qualify now — either of you — with your health issues. But you can certainly check with my two friends and favorite agents, mentioned in my column. Your only solution at this point is to save more. OR, look into a life insurance policy that has a long-term care “rider” — allowing you to withdraw for care purposes. Again, it will be health rated, and thus very expensive.
